Sector News

Mubasher: The Capital Markets Authority (CMA) has approved United Real Estate’s prospectus to issue bonds at a total value of KWD 60 million ($200 million) or KWD 50,000 per bond. The bonds will be issued in two tiers, fixed and floating, with a …

Mubasher: National Real Estate has achieved a profit of KWD 277,000 from selling two properties in Kuwait City; Meshaal Tower and Al Wataniya Tower. The total land space of the two towers stands at 987 square meters, according to a bourse …

Mubasher: Al Massaleh Real Estate incurred an increase of 135% in losses to KWD 1.41 million ($4.72 million) in the fourth quarter of 2017 compared to KWD 600,000 ($2.01 million) in the same period in the previous year. During fiscal year 2017, …

Mubasher: Kuwait Real Estate Holding (Al-Aqaria) on Thursday reported a 13.5% year-on-year surge in profits for the fourth quarter of 2017 with a net profit of KWD 58,700 ($196,400), compared to KWD 51,740 ($173,100) for Q4-16. Meanwhile, net …

Mubasher: Al Mazaya Holding’s annual general assembly (AGM) has approved the board of directors’ proposal to distribute cash dividends of 8 fils per share at a total value of KWD 5.42 million ($18.1 million). The dividends will be distributed on …

Mubasher: Real Estate Asset Management (REAM) on Thursday reported a 6.2% year-on-year increase in its profits for the fourth quarter of 2017. Profits recorded KWD 202,030 ($676,000) in Q4-17, up from KWD 193,080 ($646,000) in the same quarter a …

Mubasher: Alargan International Real Estate reported a decrease of 85.6% in profits during the fourth quarter of 2017 compared to the same period in the prior year. Earnings shrank to KWD 94,000 ($314,630) in Q4-17 from KWD 651,000 ($2.18 million) …

Mubasher: The ordinary general meeting (OGM) of Mabanee Co has approved the board’s recommendation to distribute 10% of the capital as a cash dividend for fiscal year 2017. Mabanee will pay 10 fils per share as dividends for FY17, at a total value …

Mubasher: Mabanee Co announced that the launching of The Avenues Kuwait – Phase IV will be on Thursday, 22 March 2018. Opening The Avenues mall will be under the patronage of Kuwait’s prime minister Jaber Al Mubarak Al Hamad Al Sabah, and a number …

Mubasher: The ordinary general meeting (OGM) of Kuwait Business Town Real Estate approved the board’s recommendation to distribute 3% of capital as cash dividends for fiscal year 2017. Kuwait Business Town will pay 3 fils per share dividends for …

Mubasher: The ordinary general meeting of Aqar Real Estate Investments approved the board’s recommendation to distribute 6% of capital as a cash dividend for fiscal year 2017. The Boursa Kuwait-listed company will pay 6 fils per share as …

Mubasher: International Resorts announced its preliminary approval to consider Kuwait Real Estate’s request regarding non-cash and non-mandatory acquisition of International Resorts’ shares. Conducting this takeover proposal will not impact …

Mubasher: Kuwait Real Estate has expressed interest to acquire International Resorts through a non-cash and non-mandatory tender offer. The Kuwaiti property firm has submitted its official bid to International Resorts, it said in a filing to …

Mubasher: The Commercial Real Estate (Al Tijaria) has purchased 250,000 shares from Kuwait Resorts (Muntazahat), Boursa Kuwait said on Thursday. The deal entailed buying 100,000 stocks at the price of 69 fils per share with a liquidity of KWD …

Mubasher: Arkan Al Kuwait Real Estate reported a decline of 64.4% in profits during the first quarter that ended on 31 January 2018 compared to the same period in the previous fiscal year, according to a bourse statement on Wednesday. Earnings …

Mubasher: National Real Estate Company (NREC) posted a net loss of KWD 2 million during the fourth quarter of 2017 against a net profit worth KWD 5 million in the same period in the prior year, according to a recent statement. During fiscal year …

Mubasher: The ordinary general meeting (OGM) of Ajial Real Estate Entertainment approved the board’s recommendation to distribute 5% of capital as cash dividends for fiscal year 2017. Ajial will pay 5 fils per share on 29 March to the shareholders …

Mubasher: The ordinary general meeting (OGM) of Salhia Real Estate approved distributing 20% of capital as a cash dividend for fiscal year 2017. Salhia Real Estate will pay 20 fils per share dividends at a total value of KWD 9.85 million ($32.8 …

Mubasher: Al Enmaa Real Estate registered a leap of 142.4% in profits during the first quarter that ended on 31 January 2018 compared to the corresponding period in the previous year. Earnings soared to about KWD 426,170 ($1.42 million) in Q1 …

Mubasher: The Capital Markets Authority (CMA) has granted its approval for United Real Estate to issue bonds valued at KWD 50,000 and with a maximum value of KWD 60 million. The CMA approved issuing the bonds as long as the maturity period does …

Mubasher: Al Mazaya Holding will hold its ordinary general meeting (OGM) on Wednesday, 28 March, to discuss the board’s recommendation to distribute 8% of capital as a cash dividend for fiscal year 2015. The board members have proposed paying 8 …

Mubasher: United Real Estate reported a decline of 49% in profits during the fourth quarter of 2017 compared to the same period in the prior year. Earnings decreased to KWD 1.94 million ($6.48 million) in Q4-17 from KWD 3.8 million ($12.7 million) …

Mubasher: Aayan Real Estate has incurred losses of KWD 2.91 million ($9.72 million) during the fourth quarter of 2017 against a profit worth KWD 1.73 million ($5.78 million) in the same period a year ago. During fiscal year 2017, the real estate …